3rd Quarter 2014 Earnings Conference Call October 24, 2014
Participants Peter Oleksiak Senior Vice President and CFO Jeff Jewell Vice President and Controller Mark Rolling Vice President and Treasurer Anastasia Minor Executive Director, Investor Relations 3
Overview Third Quarter 2014 Earnings Results Cash Flow and Balance Sheet Metrics Summary 4
Our business strategy is fundamental to how we create value for our investors Utility growth plan driven by infrastructure investments 5% - 6% Annual EPS Growth Strategic, transparent, low-risk growth opportunities in non-utility…
We achieved several important milestones with key projects during 3Q 2014 New electric cost of service rates related to Michigan PA169 filed Electric generation RFP submittals complete and in final negotiations Open season…
Michigan economy continues to improve Michigan is moving up in ranking and continues to receive of competitive states positive recognition Top 10 Competitive States of 2013 AMERICAN ECONOMIC Rank State DEVELOPMENT INSTITUTE 1…
We remain committed to delivering on our growth targets, and we have increased our 2014 operating EPS* guidance midpoint to 4.35 (dollars) Operating EPS* Guidance 7.4% CAGR Midpoint 2008-2014 4.35 4.09 4.30 3.94 3.75 3.64…
Overview Third Quarter 2014 Earnings Results Cash Flow and Balance Sheet Metrics Summary 9
DTE Energy Third Quarter 2014 Operating Earnings* Variance (millions, except EPS) Operating Earnings* Drivers 3Q 2013 3Q 2014 Change DTE Electric DTE Electric 179 135 (44) Cooler weather and higher storm expense, partially…
DTE Electric Variance Analysis (millions) Operating Earnings* Variance Drivers 179 (33) Cooler weather in 3Q 2014 (20) Variance to normal weather 12 (3) 135 - 3Q 2013: 0 - 3Q 2014: (33) Higher storm expenses Lean and…
We are increasing and narrowing our 2014 operating earnings* guidance, supported by strength in DTE Gas and Power & Industrial Projects (millions, except EPS) 2014 YTD Prior Revised Actuals* Guidance Guidance Guidance Drivers DTE…
Overview Third Quarter 2014 Earnings Results Cash Flow and Balance Sheet Metrics Summary 13
DTE Energy YTD 2014 Cash Flow (billions) Cash Flow Summary Drivers YTD 2013 YTD 2014 Cash From Operations* 1.7 1.2 Cash from operations decrease Capital Spending (1.4) (1.5) - DTE Electric: higher fuel and Free Cash Flow 0.3…
We are revising our 2014 cash flow guidance (billions) (millions) Cash Flow Summary Capital Expenditures Summary Prior Revised Prior Revised Guidance Guidance Guidance Guidance Cash From Operations 1.6 1.6 DTE Electric Capital…
Strong balance sheet remains a key priority and supports growth Leverage* Target 50% - 52% Targeting zero equity issuances in 2014 49% 52% 1.2 billion of available liquidity as of 2013 2014E September 30, 2014 Refinanced…
Overview Third Quarter 2014 Earnings Results Cash Flow and Balance Sheet Metrics Summary 17
Summary Our third quarter operating earnings* reflect cooler weather and storms at DTE Electric, partially offset by strong results in our non-utility segments We are confident in this years performance and are increasing our…
Contact Us DTE Energy Investor Relations www.dteenergy.com/investors (313) 235-8030 19
Appendix
DTE Energy Third Quarter 2014 Operating Earnings Per Share* 1.02 DTE Electric DTE Gas Non-Utility Corporate & Other 0.76 (0.09) 0.34 0.01 Gas Storage & Power & Industrial Energy Trading Pipelines Projects 0.11 0.21…
DTE Energy YTD 2014 Capital Expenditures (millions) Capital Expenditures Drivers YTD 2013 YTD 2014 DTE Electric DTE Electric capital higher due to timing of Operational 682 845 infrastructure investments and higher storm…
Third Quarter DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income (millions) 11 14 Economic net income Operating Earnings* equals economic gross (millions, after-tax) margin*** minus O&M 3 expenses…
Year to Date DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income (millions) 35 36 Economic net income Operating Earnings* equals economic gross (millions, after-tax) margin*** minus O&M expenses and…
Third Quarter and September Year To Date Reconciliation of Reported to Operating Earnings Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the…
2008 2013 Full Year Reconciliation of Reported to Operating Earnings Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…
Reconciliation of Other Reported to Operating Earnings Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from ongoing operations…
Loading...
